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Government at a Glance

Latin America and the Caribbean 2014: Towards Innovative Public Financial Management

image of Government at a Glance

Latin American and Caribbean Government at a Glance offers a dashboard of more than 30 indicators to help decision makers and citizens analyze and benchmark government performance both within the LAC region and compared to the OECD countries. The publication focuses in four broad areas: budgeting practices; public sector pay and employment; public procurement and public finances. Furthermore, the policy chapter deepens in the budgetary and fiscal innovations which have taken place for the LAC region in the past years.

Despite the fact that the LAC region has not been so badly affected by the recent Global and Financial crisis, the Latin American an Carribbean Government at a Glance argues that governments need to be more inclusive, transparent, receptive and efficient. For that, they need to improve among other budgetary, employment and procurement practices, as well as increase the transparency levels.

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Fiscal rules

During the last decade, several LAC countries have implemented fiscal responsibility laws to improve the sustainability and transparency of fiscal policy, and to increase macroeconomic stability. As part of this, some countries have implemented fiscal rules that place long-term restrictions on fiscal policy through explicit numeric limits on fiscal aggregates. Fiscal rules typically cover revenue, expenditure, budget balance or debt. They are meant to be observable and permanent, irrespective of changes in government.

English Spanish

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